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  • Roc Oil, award of Shallow Water Exploration Block M07 in Myanmar
    édité le 27/03/2014 - Plus de news de "Roc Oil" - Voir la fiche entreprise de "Roc Oil"

Roc Oil, award of Shallow Water Exploration Block M07 in Myanmar
Roc Oil Company Limited (ASX:ROC) is pleased to advise that it has been notified by the Myanmar Ministry of Energy (MOE) of the successful award of a Production Sharing Contract (PSC) for shallow water Block M07 in the Moattama basin, offshore Myanmar.

The PSC award is subject to finalisation of terms with the MOE; and ROC will hold a 59.375% interest and operate the licence on behalf of the Joint Venture (JV) Participants.

The block award includes a provision for the JV to undertake an 18 month Environmental Impact Assessment and Study Period, following which it has an option to proceed into a three year exploration work programme.

Commenting on the successful tender for offshore Block M07, ROC’s Chief Executive Officer, Alan Linn, said "the award demonstrates ROC’s continuing commitment to South East Asia and securing value growth opportunities in established and emerging basins. M07 plays to our core capabilities in offshore shallow water exploration and development projects, and offers the potential for exploration lead growth close to producing fields and existing infrastructure.

Myanmar contains a number of established and producing hydrocarbon basins and is a potentially world-class petroleum province, which will benefit significantly from the introduction of recent advances in exploration and development technologies. Given this and the geology, the M07 block is an exciting opportunity.

Our JV partners bring a blend of local experience and proven offshore exploration operating expertise, and we are looking forward to working with them to finalise this opportunity and also building new strong partnerships in Myanmar."

Block M07
This approximately 13,000 square kilometre Block is located in shallow water depths of between 15-50 meters in the gas and condensate prone Moattama basin, offshore Myanmar at the mouth of the Irrawaddy delta. The Block is 160 kilometres East of the 6.5 Tcf Yadana gas field and 110 kilometres North East of the 1.5 Tcf Zawtika gas field.

The Moattama basin is Myanmar’s most prolific offshore hydrocarbon province, with existing production from two offshore fields and a third field close to production commencement. Production is typically from stacked Miocene clastic reservoirs.

About Roc Oil

Roc Oil Company Limited (ROC) is one of Australia's leading independent upstream oil and gas companies with a presence in China, South East Asia and Australia. The Company operates across the full range of upstream business activities from exploration and appraisal to development and production delivery.

As an operator with strong industry relationships, including National Oil Companies, ROC has a unique set of competitive advantages - a distinct industry position for a company of its size. There are few other Australian upstream companies of a similar size capable of delivering this full suite of services.

The Company has a workforce of approximately 180, located in offices in China, Australia and Malaysia.

Incorporated in Australia, ROC listed on the Australian Securities Exchange (ASX) in 1999. At 31 December 2012, ROC had 683.2 million shares on issue.

Origine : Communiqué Roc Oil

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